Can't find a bank to cash out refinance our BRRR

[Jessica Roland]

We have finished our second BRRR and can't find a lender to do a cash out refinance for us. It is actually our first rental property and has been rented for 1.5 years. Lenders are saying our income is too low. Our personal income is extremely low, but we have 4 single family's rented and are almost done with our third BRRR (not rented). Any advice on a lender who can refinance for us? We live in rural Iowa and the ARV for these two houses will be 70k and 90k. We'd love to get our money back out to purchase more houses. Thanks!

[Kevin Romines]

There is a program called the Investor Cash Flow program. You don't put any income or employment on the application. The subject property must have rents that equal or are more than than the PITI payment of the cash out refinance. One of the programs will even do it down to rents equaling 80% of the PITI.

I would look into that program in your area. PM if you need info. as to who can do that in your area?